AVC Advice/help

[Reading1]

Hi, taken my age 60 benefits this year on 60th birthday. Have never paid into an AVC as was before now not in a position to do so. I am still working but wonder if its too late to start paying into an AVC to boost my age 65 benefits.

[Jack1960]

Yes defo

[NWpostie]

I would start now, pack as much as you can into it before it closes as the CDC is expected to start in April 2024, I'm currently paying £110 a week without dropping out of PSE.

Once CDC starts all current AVCs will stop taking contributions.

[Jaggs]

I would start now, pack as much as you can into it before it closes as the CDC is expected to start in April 2024, I'm currently paying £110 a week without dropping out of PSE.

Once CDC starts all current AVCs will stop taking contributions.

The current AVCs will stop but I think there will be similar AVC options alongside the CDC scheme to what we have with the current schemes

[Jack1960]

I would start now, pack as much as you can into it before it closes as the CDC is expected to start in April 2024, I'm currently paying £110 a week without dropping out of PSE.

Once CDC starts all current AVCs will stop taking contributions.

Is that the max you can pay in witrhout dropping out?

[NWpostie]

I would start now, pack as much as you can into it before it closes as the CDC is expected to start in April 2024, I'm currently paying £110 a week without dropping out of PSE.

Once CDC starts all current AVCs will stop taking contributionsd

Is that the max you can pay in witrhout dropping out?

Thats the max I dared to go, I believe you can go up to £124 based on full time hours and wages, I've not tested it, our hourly wage has gone up since, however don't quote me on that tho.

[yellowbelly]

I would start now, pack as much as you can into it before it closes as the CDC is expected to start in April 2024, I'm currently paying £110 a week without dropping out of PSE.

Once CDC starts all current AVCs will stop taking contributionsd

Is that the max you can pay in witrhout dropping out?

Thats the max I dared to go, I believe you can go up to £124 based on full time hours and wages, I've not tested it, our hourly wage has gone up since, however don't quote me on that tho.

The National Living wage also went up by 9.7% too, so you do have to be careful how much you can AVC before dropping out of PSE
by inadvertently dropping your wage below the NLW. HR won't tell you because they class it as financial advice!

[heapsy]

I would start now, pack as much as you can into it before it closes as the CDC is expected to start in April 2024, I'm currently paying £110 a week without dropping out of PSE.

Once CDC starts all current AVCs will stop taking contributions.

Is that the max you can pay in witrhout dropping out?

I was paying £110 per week and fell out of PSE. I've had to drop down to £87. I'm on 37 hrs.

[Jack1960]

I would start now, pack as much as you can into it before it closes as the CDC is expected to start in April 2024, I'm currently paying £110 a week without dropping out of PSE.

Once CDC starts all current AVCs will stop taking contributions.

Is that the max you can pay in witrhout dropping out?

I was paying £110 per week and fell out of PSE. I've had to drop down to £87. I'm on 37 hrs.

Thanks